Esrey Energy Announces Surrender of Stock Options

Esrey Energy Ltd. ("Esrey" or the "Company") (TSX VENTURE:EEL) announces that an
aggregate of 880,250 stock options of the Company ("Options") have been
voluntarily surrendered by the holders of such Options. The surrender of Options
is effective immediately and was completed for nil consideration. Following the
surrender of such Options, the Company has 1,413,250 Options outstanding
pursuant to the option plan of the Company, which represents, in aggregate,
approximately 5% of the issued and outstanding common shares of the Company
("Common Shares").


About Esrey

Esrey is a Canadian exploration and development company focused on developing
oil and gas properties in Papua New Guinea, Poland and Bulgaria. Esrey holds in
Papua New Guinea a 16.85% net interest in PPL 319 and an 84.25% interest in 3
additional PPLs in northern Papua New Guinea (which collectively cover
approximately 5.5 million gross acres) and a 20% net interest in PRL 13 (which
covers approximately 42,000 gross acres). Esrey has entered into a farm-in
agreement with subsidiaries of Heritage Oil PLC under which those subsidiaries
acquired an 80% interest in PPL 319 and PRL 13, subject to fulfillment of work
commitments under the farm-in agreement. Esrey has a 42.96% net interest in
approximately 734,000 gross acres of prospective shales in Poland together with
BNK Petroleum Inc. Esrey is operator and has a 50% net interest in approximately
360,000 gross acres of prospective shales in Poland together with San Leon
Energy. Esrey has entered into a farm-in agreement relating to 405,080 acres of
prospective argillite formation in Bulgaria with Direct Petroleum Bulgaria EOOD,
a subsidiary of TransAtlantic Petroleum Ltd. Esrey also holds a 100% working
interest (80% net revenue interest) in approximately 3,670 net mineral acres of
oil and gas leases in Daniels and Sheridan Counties located in north east
Montana as well as a 100% working interest (79% net revenue interest) in
approximately 46,700 net acres of oil and gas leases in Cascade County, in
western Montana. Esrey shares trade on the TSX Venture Exchange under the symbol
"EEL".


ESREY ENERGY LTD.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release


Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking
information" as such term is used in applicable Canadian securities laws,
including information regarding the board change. Forward-looking information is
based on plans and estimates of management at the date the information is
provided and certain factors and assumptions of management. Forward looking
information is subject to a variety of risks and uncertainties and other factors
that could cause plans, estimates and actual results to vary materially from
those projected in such forward-looking information. Factors that could cause
the forward-looking information in this news release to change or to be
inaccurate include, but are not limited to, the risks related to unsatisfactory
results of due diligence, international operations and doing business in foreign
jurisdictions, risks associated with the oil and gas industry and exploratory
and development activities generally (e.g., operational risks in development,
exploration and production, delays or changes in plans with respect to
exploration or development projects or capital expenditures, risks associated
with equipment procurement and equipment failure), the risk of commodity price
and foreign exchange rate fluctuations, risks related to future royalty rate
changes, and risks and uncertainties associated with securing and maintaining
necessary regulatory approvals, and counterparty risk related to the stability
and viability of the Company's joint venture participants.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Esrey Energy Ltd.
Investor relations
1-778-373-0103
[e-mail]